Residential Ownership Incentive

Purpose

The Zephyrhills Community Redevelopment Agency (CRA) will grant $5,000 to incentivize the purchase of a home within the CRA District. The grant is intended to incentivize home purchases within distressed neighborhoods as catalyst projects and to improve the owner-occupancy rate in the CRA District and encourage a neighborhood friendly walkable community. This grant is not down-payment assistance, funding will be provided following the property sale closing and required documentation is submitted to the office of the Zephyrhills Community Redevelopment Agency.

Grant Guidelines

Please read the entire Grant Guidelines and Procedures before completing the application.

1. The subject property must be located within the Zephyrhills CRA District.

2. Any person who has filed for homestead exemption in the Zephyrhills CRA Overlay District at any time during the past 18 months prior to the date grant application is received by the Zephyrhills CRA is not eligible for grant program.

3. Only single-family homes are eligible for grant program, legal nonconforming multifamily structures, duplexes and triplexes can be considered only if converted to single family residence.

4. The grant program requires grant recipient, as defined by person or persons as listed on Warranty Deed of subject property, file for homestead exemption on subject property within 7 days of closing on subject property, NO EXCEPTIONS. Confirmation of Homestead Exemption from the Pasco County Property Appraiser must be provided. The filing of Homestead Exemption does not automatically mean you will receive exemption in same year.

5. If more than one person is listed on Warranty Deed of subject property, all those named on Warranty Deed must provide signatures on all grant forms, no exceptions.

6. The home purchase must be an “arms-length” transaction, property must change ownership to a buyer who is not a family member or has any business relation with the seller.

7. Refinancing a home does not qualify an individual for this program.

8. No demolitions will be permitted.

9. Any and all restoration of housing must meet all applicable zoning and code requirements, CRA Design Guidelines and any other applicable requirements as determined by the City of Zephyrhills Planning Department. Zoning and CRA Design Guidelines will be based on a single family residential zoning category. If the applicable CRA and/or Historic Preservation (within designated areas) Guidelines are not met, upon notice by the Zephyrhills CRA the applicant will pay the entire $5,000 grant back to the Zephyrhills CRA within 15 business days. If the funds are not repaid on time, the owners will be considered in default and interest will accrue at 18% per annum.

10. Grant recipient as defined by person or person as listed on Warranty Deed of subject property, must continuously maintain owner occupancy with homestead exemption for a minimum period of five (5) years. No exceptions.

11. The grant is not retroactive. Only one grant per structure is permitted.

12. Should grant be approved a five (5) year interest-free lien for $5,000, will be placed on the property. If the homestead exemption has remained on the property continuously for the five (5) year period, and there is no evidence that during the five (5) year period the property was not owner occupied/residing on subject property, the lien will be forgiven and will be removed.

13. Should grant be approved and requirements for continuous five (5) year homestead exemption not be fulfilled and/or applicant vacates subject property prior to fulfilling the owner occupancy requirement, applicant will pay the entire $5,000 grant amount to the City of Zephyrhills CRA within 15 business days of notification. Should grant amount not be repaid within 15 business days, owner will be considered in default and interest will accrue at 18% per annum.

14. The CRA Board of Commissioners reserves the right to deny an application at any time without cause.

Program Procedure

The potential buyer will submit the following to the Community Redevelopment Agency:

Grant Application.

Affidavit stating Grant Recipient will continuously maintain ownership of subject property and file for homestead exemption for a minimum period of five (5) years.

CRA staff will review the application for compliance with program guidelines and forward a recommendation to the CRA Board. The CRA Board of Commissioners will have final authority for approval of the grant awards. Written confirmation of grant approval will be sent to applicant along with grant agreement and W-9, all forms must be completed and signed by applicant/property owner and returned to the CRA Office.

Upon grant approval and submittal of all required signed documents a five (5) year, interest free, forgivable lien will be placed on the property. If the homestead exemption has remained on the property continuously during the five (5) year period, and if there is no evidence during the five (5) year period the grantee was not residing on the property, the lien will be forgiven and removed.

Should the grantee vacate the home prior to fulfilling the five (5) year occupancy requirement or sell the home to a third party, the grantee shall pay to the Zephyrhills CRA the entire grant amount of $5,000 previously received within 15 business days of vacating the property. Should grant amount not be repaid within 15 business days, owner will be considered in default and interest will accrue at 18% per annum.